\begin{tabular}{lcccll}
\toprule
  & \multicolumn{3}{c}{Emissions reduction} & & \\
\cmidrule(lr){2-4}
  & 10\% & 30\% & 50\% & Units & Source \\
  & (1) & (2) & (3) & (4) & (5)  \\ \midrule \addlinespace
\multicolumn{6}{c}{\textit{Panel A. Annual costs from scale-up of emissions trading}} \\ \addlinespace
1. Monitoring costs per plant & $5,000$ & $5,000$ & $5,000$ & \$/year & \multicolumn{1}{l}{Author estimates}\\
2. Abatement cost $\Delta$ per plant & $-1,242$ & $-648$ & $77$ & \$/year & Author estimates \\
3. Total costs & $3.4$ & $3.9$ & $4.6$ & \$m/year & \multicolumn{1}{l}{= (A1 + A2)$\times$906} \\
\addlinespace
\multicolumn{6}{c}{\textit{Panel B. Reduction in pollution}} \\ \addlinespace
1. Ambient PM$_{2.5}$ conc. & $88.5$ & $88.5$ & $88.5$ & $\mu g / m^3$ &  \multicolumn{1}{l}{Guttikunda et al. (2019)}\\
2. Industry share & $0.3$ & $0.3$ & $0.3$ & & \multicolumn{1}{l}{Guttikunda et al. (2019)} \\
3. Reduction in industry PM$_{2.5}$ & $10.0$ & $30$ & $50$ & \% & \\
4. Reduction in ambient PM$_{2.5}$ & $2.8$ & $8.5$ & $14.2$ & $\mu g / m^3$ & \multicolumn{1}{l}{= B1$\times$B2$\times$B3} \\
\addlinespace
\multicolumn{6}{c}{\textit{Panel C. Gain in life-years}} \\ \addlinespace
1. Mortality impact & $0.1$ & $0.1$ & $0.1$ & $\nicefrac{\text{years}}{(\mu g / m^3)}$ & Ebenstein et al. (2017) \\
2. Gain in life expectancy & $0.3$ & $0.8$ & $1.4$ & years & = C1$\times$B4 \\
3. Life expectancy & $70$ & $70$ & $70$ & years & \multicolumn{1}{l}{World Bank} \\
4. Per year of ETS & $0.004$ & $0.012$ & $0.020$ & years & = C2 / C3 \\
5. Population & $7.5$ & $7.5$ & $7.5$ & m & \multicolumn{1}{l}{World Pop. Review} \\
6. Total gain in life-years & $29,736$ & $89,208$ & $148,680$ & years & = C4$\times$C5 \\
\addlinespace
\multicolumn{6}{c}{\textit{Panel D. Value of gain in life-years}} \\ \addlinespace
1. Value of statistical life & $665,000$ & $665,000$ & $665,000$ & \$ & \multicolumn{1}{l}{Nair et al. (2021)}\\
2. Value of 1 year of life & $9,500$ & $9,500$ & $9,500$ & \$/year & \multicolumn{1}{l}{= D1 / C3}\\
3. Value of gain in life-years & $282$ & $847$ & $1,412$ & \$m & = C6$\times$D2 \\
\addlinespace
\multicolumn{6}{c}{\textit{Panel E. Benefit-cost ratio}} \\ \addlinespace
1. Ebenstein et al. (2017) & $83$:1 & $215$:1 & $307$:1 & & = D5 / A3\\
2. Pope, Ezzati and Dockery (2009) & $52$:1 & $134$:1 & $191$:1 \\
3. Correia et al. (2013) & $30$:1 & $77$:1 & $110$:1 \\
4. Apte et al. (2018) & $10.0$:1 & $26$:1 & $38$:1 \\
\addlinespace
\bottomrule
\end{tabular}
